 | | January 2021 | New T4 2020 reporting requirements
John Oakey, CPA, CA, TEP, CC, is national director of Tax Services at Baker Tilly Canada | Effective for the 2020 T4 reporting of employee income, the Canada Revenue Agency (CRA) now requires additional reporting that applies to all employers, regardless of whether a business has applied for any of the COVID-19 related federal government relief/recovery programs. This will assist the CRA in validating payments received by employers and their employees under the Canada Emergency Wage Subsidy (CEWS), the Canada Emergency Response Benefit (CERB) and the Canada Emergency Student Benefit (CESB).
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| | | | Baker Tilly Ottawa LLP | 
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Baker Tilly Canada periodically publishes Tax Flash for its clients and associates. It is designed to highlight and summarize the continually changing tax and business scene across Canada. While Tax Flash may suggest general planning ideas, we recommend professional advice always be sought before taking specific planning steps. |
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